US finalizes $6.6 billion chips award for TSMC ahead of Trump return

The U.S. Commerce Department said Friday it has finalized a $6.6 billion government subsidy for Taiwan Semiconductor Manufacturing Co’s U.S. unit for semiconductor production in Phoenix, Arizona.

The binding contract – after a preliminary agreement announced in April – is the first major award to be completed under the $52.7 billion program created in 2022.

It comes just weeks before President-elect Donald Trump, who criticized the program, takes office.